Thursday, December 22, 2011

Economics is a Worthless Degree

A lot of people ask me if I find economics to be a worthless degree and I say, "Yes, yes it is."

The discipline has been corrupted by Keynesians and professional bureaucrats as a means to rationalize wealth transfers and any private sector employment is minimal due to the private sector being about as dumb and intellectually crippled as the labor pool it pulls it's leaders from.

Thankfully I majored in finance so I have some modicum of accounting skill to fake like I know what I'm doing. Regardless, I would strongly advise AGAINST majoring or pursuing a career in economics because you will simply, once again, be giving Big Education academians your money to be:

1. Lied to
2. Taught nothing
3. With no tangible skill that any employer wants
4. Unless you already have an uncle in the Bulge Bracket or government who can land you a job

However, I do believe, like writing, it is a skill you should develop or learn on your own in that it will serve you better in other areas of your life. Not just because it's intellectually rewarding and stimulating, but studying reality-based economics (ie-Austrian) will help you understand where to invest, how society will evolve (or in our case collapse) and in general predict the economy much better than Krugmanites.

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